You work hard to make sure you have the financial security you want for you and your family. Those plans don't always prepare you for the surprises that life may bring to your future, like the unexpected cost associated with Long-Term Care. Most people are unaware that Long-Term Care insurance is not covered by Medicare.

What will Long-Term Care cover?

Nursing Home

Assisted Living Facilities

Adult Day Care Services

In Home Care

Home Modifications

Care Coordination

According to Genworth's 2017 cost of care survey – A nursing home room nationwide is $85,775 per year / Assisted Living runs about $45,000 per year and Home Health Aids charge $135 per day.

There are two different routes you can take with LTC, there is Traditional LTC or there is Hybrid LTC:

Traditional Long-Term Care coverage is usually cheaper than the Hybrid LTC because with the Hybrid you are paying extra for that guarantee of getting money back.

Hybrid Long-Term Care is Whole Life Insurance policy that you can draw from for LTC. "Hybrid" policies will return money to your loved ones even if you do not end up using the LTC. There is not a price hike like the traditional LTC policies.

If you are between 50 and 60 years old, start looking now for LTC coverage – LTC only increases in price the older you get.

You work hard and owe it to yourself to take a minute out to protect your own health and wealth.